Remove Employee Enrollments Remove Flexible Spending Remove Medical
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FSA eligible expenses — what purchases count?

Business Management Daily

Flexible Spending Accounts allow employees to set aside pre-tax dollars from their paycheck to use for medical or dependent care expenses. These funds are placed in an FSA account that employees can use to pay for eligible expenses. Copays, co-insurance, and deductibles for medical care. Medical Marijuana.

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FSAs, HSAs, HRAs: What employers need to understand

Business Management Daily

Almost all health plans offer add-on accounts — health flexible spending accounts, health savings accounts, or health reimbursement accounts. You need to know how these accounts differ so you can communicate about them to employees. Health flexible spending accounts. Here are the basics.

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GoCo

HR Lineup

With GoCo, employees have access to a comprehensive benefits marketplace where they can compare plans and select the best options for their individual needs. The platform also offers a flexible spending account (FSA) option, allowing employees to set aside pre-tax dollars for eligible medical and dependent care expenses.

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Executive benefit reimbursement plans

Higginbotham

In the simplest terms, a medical expense reimbursement plan refunds employees for covered medical costs. For example: In an individual coverage health reimbursement arrangement, the health reimbursement arrangement is offered in place of a group health plan, allowing employees to purchase a health plan on their own.

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Do you need to make benefit changes because of COVID-19?

Benefit Resource Inc.

For employees with an HSA, Dependent Care FSA, and/or commuter plan, there may be the opportunity to make changes to their accounts. Changes to Medical FSAs are currently not permitted). Here are the main updates employees should know about. Even apart from COVID-19, HSAs are fairly flexible when it comes to making changes.

Taxes 75
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6 Key HSA Benefits to Communicate to Employees

Flimp Communications

About half of American employers offer HSAs — coupled with high-deductible health plans (HDHPs) — but, according to one study , 69% of employees don’t understand their benefits or uses. When given the option, nearly two-thirds of employees enroll in an HSA-eligible health plan — a sign of progress! HSAs are savings accounts.

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What is a High-Deductible Health Plan (HDHP)?

Higginbotham

By opting for a higher deductible, employees can secure lower monthly premiums. Let’s say an employee enrolls in a high-deductible health plan providing self-only coverage with an annual deductible of $2,000. Employers, employees or both can contribute funds to an HSA in the same year.